Hinkley

Taxpayers will not be on the hook for any additional costs incurred in the building of the new $24 billion Hinkley Point nuclear plant, British finance minister Philip Hammond said. A British parliamentary watchdog said in June that the deal to construct the nuclear power station, which is being built by French state-owned utility EDF, was risky. It said the project could lead to requests for more cash and electricity payment top-ups worth 30 billion pounds ($40 billion). EDF said in July that costs at Hinkley Point were likely to be higher than it originally thought. “Costs are not rising for the bill payer or the taxpayer. They may very well be rising for our development partners, but that’s their problem,” Hammond said on Tuesday.

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